Voyager, a New York-based Crypto brokerage platform that launched and went public this month, has agreed to acquire Ethos, wallet startup for around USD4 million deals. With this agreement, Voyager could get an array of Ethos.io developed products, including the Ethos Universal Wallet and the Blockchain platform Ethos Bedrock, along with certain Blockchain technology and IP.
Voyager said that it will select an allocation of Ethos tokens that the target company, called as Bitquence. Voyager will disburse for the acquisition with its listed shares. The company, earlier this month went public through a reverse merger with a dormant company traded on Canada’s TSX Venture Exchange. As part of the agreement, Ethos Founder and CEO Shingo Lavine, will become Voyager’s Chief Innovation Officer and join the company’s board, and Ethos’ former owners will have the right to propose one director for appointment to the Voyager board at each annual general meeting, once they have amassed at least 3.5 million shares. Before this deal, both companies had been working together for some time. But now, the two developer teams will start working together on the same objectives. In a statement, Voyager’s CEO Steve Ehrlich stated that before they separate priorities, but liked so much what both have begun together as strategic partners, where they decided to bring their resources together. He further said that for Voyager’s business, the Ethos token that first introduced in July 2017 at ICO, will be a valuable component. The token was designed to pay for Ethos’ wallet services, such as transaction fees and API calls. But in the future, it might be utilized to pay cash-back rewards for trading on the platform.
The Crypto brokerage platform Voyager pointed out that among other future use cases for Ethos tokens, users may be capable of pledging it as collateral for margin trading accounts and even receive interest on their token holdings. As per Ehrlich, now Voyager owns and can fully use the fintech platform Ethos Bedrock built by Ethos for crypto companies to create a future crypto-payment system.